Egypt imports 365,000 tonnes of Brazilian Sugar

Egypt's authorities have decided to import 365,000 tonnes of sugar from Brazil at international prices until local production reaches sufficient levels in January.

The deal will cost around LE1.3 billion (US$220 million), and is supposed to reach Egyptian consumers before the end of September, according to Hassan Kamel, Head of Egyptian Sugar and Integrated Industries company.

Kamel added that the imported amounts, in addition to the current stock levels, are sufficient to cover the needs of the market until the sugarcane season starts the beginning of 2012.